EBRD eager to expand Br-credit financing in Belarus - Marina Petrov
<p> MINSK, Jul 31 – PrimePress. The European Bank for Reconstruction and Development (EBRD) is interested in increasing project financing in Belarus, using credits denominated in the country’s domestic currency. </p> <p> </p> <p> Head of the EBRD Office in Belarus Marina Petrov made a statement to this effect during an online conference on July 31. </p> <p> </p> <p> Providing funds in Belarusian rubles has become a new form of EBRD operations in Belarus. “We have made several deals with Belarusian banks, where we were able to provide rubles. This is important for companies that are not exporters. We are now working with the National Bank of Belarus and the Development Bank of Belarus to increase funding in Belarusian rubles. The European Union is helping us here. It has provided financing to partially cover FX risks," said Petrov. </p> <p> </p> <p> The EBRD support, besides direct financing and through Belarusian banks, also includes consulting. “This year more than 50 Belarusian companies have received consulting services to improve business efficiency. We were able to respond quickly and present consultants to regroup and respond to the challenges,” she said. </p> <p> </p> <p> In 2020, the EBRD's shareholders decided to allocate two tranches of €4 billion to address the challenges posed by the COVID 19 coronavirus pandemic, with a new business volume of €6 billion in the region. “We helped clients solve short-term problems through refinancing, restructuring and obtaining financing to complete investment programs. Specifically in Belarus, we financed exclusively private businesses, banks and companies this year. The volume of new business amounted to €160 million - the largest amount allocated in the first half of the year in the history of the bank’s operations in Belarus,” said Petrov. </p> <p> </p> <p> In her words, the second direction of the EBRD's work is to solve the problems of trade financing, such as a crisis of confidence between clients and increasing delivery terms. </p> <p> </p> <p> The European Bank for Reconstruction and Development is an international financial institution headquartered in London, created to support the economic transformations in Central and Eastern Europe. Since the start of its operations in Belarus in 1992, the EBRD has invested €2.917 billion in 134 projects in various sectors of the country’s economy. In 2016 the EBRD adopted a new strategy for operations in Belarus in 2016-2019. The document abolished the calibrated approach, which restricted EBRD operations with the public sector. Belarus and the EBRD have been implementing a number of projects in utilities industry, energy saving, transport infrastructure and environment protection. End </p>
2020-08-01
Primepress
MINSK, Jul 31 – PrimePress. The European Bank for Reconstruction and Development (EBRD) is interested in increasing project financing in Belarus, using credits denominated in the country’s domestic currency.
Head of the EBRD Office in Belarus Marina Petrov made a statement to this effect during an online conference on July 31.
Providing funds in Belarusian rubles has become a new form of EBRD operations in Belarus. “We have made several deals with Belarusian banks, where we were able to provide rubles. This is important for companies that are not exporters. We are now working with the National Bank of Belarus and the Development Bank of Belarus to increase funding in Belarusian rubles. The European Union is helping us here. It has provided financing to partially cover FX risks," said Petrov.
The EBRD support, besides direct financing and through Belarusian banks, also includes consulting. “This year more than 50 Belarusian companies have received consulting services to improve business efficiency. We were able to respond quickly and present consultants to regroup and respond to the challenges,” she said.
In 2020, the EBRD's shareholders decided to allocate two tranches of €4 billion to address the challenges posed by the COVID 19 coronavirus pandemic, with a new business volume of €6 billion in the region. “We helped clients solve short-term problems through refinancing, restructuring and obtaining financing to complete investment programs. Specifically in Belarus, we financed exclusively private businesses, banks and companies this year. The volume of new business amounted to €160 million - the largest amount allocated in the first half of the year in the history of the bank’s operations in Belarus,” said Petrov.
In her words, the second direction of the EBRD's work is to solve the problems of trade financing, such as a crisis of confidence between clients and increasing delivery terms.
The European Bank for Reconstruction and Development is an international financial institution headquartered in London, created to support the economic transformations in Central and Eastern Europe. Since the start of its operations in Belarus in 1992, the EBRD has invested €2.917 billion in 134 projects in various sectors of the country’s economy. In 2016 the EBRD adopted a new strategy for operations in Belarus in 2016-2019. The document abolished the calibrated approach, which restricted EBRD operations with the public sector. Belarus and the EBRD have been implementing a number of projects in utilities industry, energy saving, transport infrastructure and environment protection. End